NEW YORK (CNNMoney.com) – The House on Friday passed a far-reaching and historic plan to bail out the nation's financial system.
The vote for passage of the Senate-amended bill – 263 to 171 – was the result of strong lobbying on the part of the White House and other supporters of the bill all week, following the House defeat of a similar measure on Monday – a defeat that shocked the markets and congressional leaders on both sides of the aisle.
According to preliminary numbers, 172 Democrats voted in favor of the bill while 62 opposed it; and 91 Republicans voted for it and 108 voted against it.
Billions for the Bankers...Pennies for the People
I'm witnessing the death of democracy and the birth of socialism in America.
DOING SOMETHING IS BETTER THAN DOING NOTHING LIKE OTHERS WANTED, OTHERS WHOM IT WOULD HAVE AFFECTED GREATLY. ALTHOUGH, THE REPUBLICANS CANNOT WITN FOR LOSING... BECAUSE IF IT DOES WORK......... THOSE WHO VOTED AGAINST IT WILL NEED TO CONVINCE PEOPLE THEY DID THE RIGHT THING...........
I AM JUST GLAD THEY DID SOMETHING. THANKS :)
Does this mean I can write to my representative and they will bail out a couple poor financial decisions I made?
So, tell me again, just how does this benifit ME ??? will I get cheaper gas, be able to sell my home at a decent price, be able to pay for all my meds, be able to buy decent priced grocercies, not get taxed more on my paycheck ? Tell me exactly, how will this help ME """"???????
worried independent in Texas
I'm sure Osama bin Laden is laughing in his cave and praying for a McSame/Caribou Barbie win. Just like when his video surfaced a couple days before the 2004 election and the CIA analysts agreed that it was a purposeful boost for Dumbya's re-election...
Thank God the crisis is over, and now I suppose Senator McCain can resume his campaign, start running his ads again, etc. Oh wait, I think he already did.
Had the Golden Para clause been stronger I'd have backed the bill. No CEO should recover money from a company that he or she sinked as a result of his or her poor judgement.
Palin talked alot but said nothing!!
Troopergate goes on
What you'll be reading about next weekend:
ANCHORAGE, Alaska (AP) — An investigator hired by Alaskan lawmakers to probe abuse-of-power allegations against Gov. Sarah Palin was free to finish his work by a deadline set for a week from Friday after a state judge dismissed a lawsuit seeking to block the probe.
The investigation is looking into whether Palin, the Republican vice presidential nominee, and others pressured Public Safety Commissioner Walt Monegan to fire a state trooper who was involved in a contentious divorce from Palin's sister, and then fired Monegan when he wouldn't dismiss the trooper. Palin says Monegan was ousted over budget disagreements.
Now that a few controls have been added to this bill the hedge fund managers are going to sit on the sidelines and drive the stock market down.
That's right folks the greedy are still at it and as long as republicans are in control in Washington, they will still get away with it. After all, these are friends of George Bush and John McCain.
still say they would ahve done better giving us the money..it owul hav alloed mortgages ot be paid,. and from some of the numbers I hear allow other debts to be paid, or houses and cars purchased, as well as investments and savings...Government gave it to the banks and wall street,,,and it would ahve been better served giving it to us.
A bail out under a different name is still a bailout to fat cat Wall Street!
Yes something needs to be done about Credit, but was this it?
Time will tell.
Another Bush Failure! Paulson = Bush policies. Hail King Hank!
Oh, Hank, by the way I will sell you some failed mortgage!
This is disgusting. A 700 billion dollar bill, plus pork, plus tax breaks for wooden arrow manufacturers.
And the Dow is only up 50.00 to 100.00
AND Pelosi and the Dems are on TV patting themselves on the back.
Everyone in Congress who voted for this bill should be fired and charged with criminal negligence.
Let's get on with the election
And the market goes down!
Cool you all stop the bleeding. Now fix the problem.
Congrats Congress for selling America out. I am far left as well.
Congratulations, Senator Obama, on your even handed leadership on this as well as your superior knowledge of the issues. We will remember this on November 4th!
Now that the economy is fixed and the fundamentals are strong again, can we please focus our attention to some war (any war) and how John McCain's surge strategy will not only win that war but cure the greed and corruption that exists on evil Wall Street.
What a rip off. This bill is so full of pork our kids and grandkids will be paying for it for years. The American people just got screwed once again, We should vote anyone who voted for this out of office.
THIS WAS A BAD, BAD DECISION.
ONCE AGAIN WE HAVE BEEN FOOLED BY THE BUSH ADMINISTRATION.
It's just paper..
good job democrats an obama